Parting Thoughts on Budget Surpluses

This partial transcript of Fox News Sunday,September 2, 2001 was provided by the Federal Document Clearing House. Click here to order the complete transcript.

TONY SNOW, HOST: Let me pose a question: What's so hot about a budget surplus?

Here we are with a sagging economy and the federal government this year will take in at least a $160 billion more than it needs. So stop and think. If you wanted to rev up the economy, where would you put the money, in the economy or a government vault?

Other guests and topics forSeptember 2, 2001 included:
• Virtues guru Bill Bennett
• The debate over the post-partum depression defense
• The budget battle with Reps. Jim Nussle and Charlie Stenholm
Fox News Sunday roundtable
• Below the Fold
Order the complete transcript

Now consider the issue from another angle. From 1993 to 1997, all deficit years, Congress actually cut spending on programs it could control. But since the turnaround -- that is, since deficits ended -- spending has taken off, jumping 24 percent in just a couple of years. By the way, taxes have risen, too.

In other words, we got a surplus in part because Congress behaved itself for a few years and now we're losing it in part because politicians are trying to buy votes with our money.

My view is that surpluses, like deficits, are lousy. If my money produces a surplus, I want to see it in my bank account, not Uncle Sam's.

Click here to order the complete transcript.

Copy: Content and Programming Copyright 2001 Fox News Network, Inc. ALL RIGHTS RESERVED. Transcription Copyright 2001 eMediaMillWorks, Inc. (f/k/a Federal Document Clearing House, Inc.), which takes sole responsibility for the accuracy of the transcription. ALL RIGHTS RESERVED. No license is granted to the user of this material except for the user's personal or internal use and, in such case, only one copy may be printed, nor shall user use any material for commercial purposes or in any fashion that may infringe upon Fox News Network, Inc.'s and eMediaMillWorks, Inc.'s copyrights or other proprietary rights or interests in the material. This is not a legal transcript for purposes of litigation.